Oil and gas company Eni Norge has received approval from the Norwegian parliament to develop and operate its Goliat field in the Barents Sea.
Goliat is a strategic project for Eni Norge and will be developed with state-of-the-art technology in order to minimise emissions in an environmentally important area, the company said.
The Goliat field will be developed using subsea wells linked to a circular floating production, storage and offloading facility (FPSO).
Use of the circular FPSO makes it possible to utilise electricity supplied from the shore combined with a gas turbine for power and heat on the offshore facility. This will result in significantly lower levels of CO2 emissions, according to Eni.
The Goliat field is located in blocks 7122/7, 8, 9, 10 and 7123/7, and was discovered in 2000 when the first exploration well was drilled.
Reserves are estimated at about 180 million barrels of oil of oil and gas equivalent. The total Goliat investments are estimated to be about NKr28bn in 2008 money. The planned start-up for the project is the fourth quarter of 2013.
The licencees in production licence 229/229B are Eni Norge (operator) with 65% and StatoilHydro Petroleum with 35%.